Pittards Share Discussion Threads

[diku] 16/11/2020 18:14

So no more finger prints...

[meijiman] 16/11/2020 18:10

Hang on..isn't there a spot of bother in Ethiopia at the moment. Maybe the military are ordering leather gloves.

[my retirement fund] 16/11/2020 17:57

Well its not just yap at it, all of them are starting to get stuck in. It's always good to see the directors aligning their interests with the shareholders

[my retirement fund] 16/11/2020 11:29

banner normally people who are wasting cash on an advfn subscription have a little bit of muscle in their bonce. This show has managed to secure a shed load of near zero covid cash to replace its expensive creditor facilities and comfortablehead room cash flow. Probably one reason that Yap guy actually spent some of his own salary on some shares for once. With that in mind would you care to explain why there would be a 20 pence placing?

[my retirement fund] 13/11/2020 15:52

Something afoot? Got to have predator action sniffing that fresh leather smell down here perhaps

[callumross] 13/11/2020 14:53

Just bought some. 15% shareholding changed hands.

[baner] 29/10/2020 08:03

No doubt there is a risk of a highly dilutive placing around the corner - say 20m shares at 20p.........and also the need for a drastic stock provision.

[energeticbacker] 30/9/2020 16:13

Despite the diabolical results, management appeared full of confidence, commenting how they “enter the second half with renewed confidence and stability and with positive and improving cash flows.”

Investor's Champion hopes the strategy of enlarging their portfolio of markets and products starts to bear fruit otherwise this could be a goner.

[clocktower] 30/9/2020 07:19

What a shambles, the board of directors are a bunch of failures who issue RHS that prove beyond doubt that they should be removed. What are the doing with £16 million of stock, when the turnover justifies £2 million at most.

I bet that stock should truly be valued at no more than £5 million, how much should it have been depreciate by if it were not being used to improve the look of the accounts.

Years and years of mismanagement and yet they still have jobs?

[bookbroker] 20/7/2020 08:58

It is very good at tanning leather, but actually making money seems near nigh impossible, needs to focus purely on its strengths, that will likely mean the demise of the Yeovil site, and unfortunately a very established business there.

[meijiman] 20/7/2020 08:55

Another fine mess. What a shambolic company this is. Jobs for life.

[baner] 20/7/2020 07:45

Rescue placing now around the corner - max 20p.

[baner] 09/6/2020 08:56

with inventories equal-ish to a year´s turnover, Pittards is likely to face serious cash problems going forward - maybe time for a rescue fund raising soon - but are there any investors around for this? excellent name in a gigantic industry, low cost facilities in Ethiopia and yet this management cannot make any meaningful profits out of the business. sad story. very sad.

[meijiman] 20/1/2020 12:45

Well no doubt salaries continue to be paid to these deadlegs

[bookbroker] 20/1/2020 12:39

Not a lot by the looks!

[meijiman] 20/1/2020 12:18

what is going on at this hopeless company. ?

[clocktower] 19/9/2019 08:51

Disappointing drop in T/O - Yet distribution cost have increased disproportionately, as have Administrative expenses - one wonders if they are just paying themselves higher salaries while delivering very little I regret to say.

I had thought they would have reduced the Ad Min expenses, reduced the Distribution Costs in line with Sales.

It would be good if we could get to the bottom of these figures. No wonder the share price has not gained on this news.

While they are positive with the outlook there is a Big question of trust and excuses, so maybe consider selling on any spikes in future.

[meijiman] 30/7/2019 14:18

If the market starts to re-rate the main exporters then this company should be a gainer.

[meijiman] 30/7/2019 14:18

If the market starts to re-rate the main exporters then this company should be a gainer.

[clocktower] 30/7/2019 12:52

Over 90% of UK Production is Exported.

Much of the leather PTD sell is for Sports related goods - Upholstery,Leather for Car Seats,Saddles, Bridles, Shoes, Golfing Gloves, Handbags, Wallets, Travel Bags and leather used in ski wear in addition to a host of other industries and not to be overlooked, Leathers for the Craft Industry etc.

They now have a great on-line shop that retails Hides and Leather Skins but more importantly they seem to be retailing a High Quality Designer Bags and accessory ranges.



It seems to me they are building a sizeable manufacturing operation making gloves and other goods in Addis Ababa as well, and allthough they wrote down the value of the huge leather swtocks they were holding there, these will I expect become higher priced and profitable retail finished goods.

Take a look at the Brand Partners:



I think you will see this back over £1 before Christmas. DYOR.

[my retirement fund] 30/7/2019 11:15

Had a low pound for 3 years not helped yet has it. It will make the whole outfit cheaper for a foreign buyer who wants to buy it and take it private though. The UK seems hell bent on making itself a country of foreign owned companies who can take advantage of our cheap labour. The brexit supporters won't be happy will we are 50 cents to the pound

[clocktower] 30/7/2019 09:26

The weak Pound must be good for exports from PTD,so maybe better things ahead for investors in this company.

[meijiman] 02/7/2019 10:11

Lifestyle company..needs institutions to force through changes. PIs are ignored.

[clocktower] 02/7/2019 09:41

pvee, It is not dynamic management on behalf of investors, it is purely self interest as far as I can ascertain that has put the company where it is as part of a longer term plan to put it where the benefits can be reaped by those that have been planning for the years gone by imo.

Have you looked at the company website of late?